Stonehouse RealtyMAKE HOME EASIER.

METRO DETROIT HOMEBUYER COST ESTIMATOR

Estimate the Monthly Cost and Cash Needed for the Home You Want

The payment is only part of the picture. Bring local taxes, insurance, financing and cash to close into one useful estimate.

Each month.At closing.A clearer picture.
Bright Metro Detroit-style colonial home with a landscaped front yard

The home. The numbers. Your next move.

  1. 01 Your purchase
  2. 02 Your estimate is ready
  3. 03 The complete picture

Owner-occupied, one-unit home · * Required

Based on a current average 30-year fixed mortgage rate with zero points. You can change this rate.Updated October 15, 2026 · 7.40% starting benchmark · 30-year term. This is an estimate assumption, not a Stonehouse or Supreme Lending rate quote.

A useful estimate. A starting point.

This is an estimate, not a Loan Estimate, loan approval or commitment to lend. Rates change. The entered or default rate is an assumption. Loan eligibility, actual taxes, insurance, PMI/MIP, program charges, closing costs and cash to close are determined later in the loan and purchase process. Utilities, maintenance and repairs are not included in the monthly total.

How the estimates work, sources & lending disclosures

Michigan taxes: Taxable value generally uncaps in the calendar year after a transfer. We approximate taxable value at 50% of price; an assessor’s value can differ. Actual taxes depend on assessed value, millage changes, district, exemptions and local factors. A full principal-residence exemption is assumed. A VA funding-fee exemption does not automatically establish a Michigan property-tax exemption.

Insurance and PMI: Homeowners insurance uses 0.35%–0.55% of price annually unless replaced with a quote. Conventional PMI annual allowances are 0.20%–0.50% of base loan at 80–85% LTV, 0.30%–0.70% at 85–90%, 0.40%–1% at 90–95%, and 0.50%–1.20% above 95%. These are adjustable planning assumptions. No PMI is estimated at 80% LTV or less.

FHA / VA: This version models 30-year, one-unit purchases. FHA requires at least 3.5% down here, with 1.75% upfront MIP financed and 0.50% or 0.55% annual MIP for supported base loans up to $541,287. Minimum down payment does not establish eligibility. VA fees are financed: under 5% down, 2.15% for first use or 3.30% for subsequent use; at least 5% down, 1.50%; at least 10%, 1.25%; exempt, 0%. Unsure answers create a fee range. Lender requirements and VA entitlement may require a down payment.

Cash planning: Closing fees and prepaid/escrow funding are separate so recurring items are not counted twice. The combined amount may fall outside commonly cited 2%–5% guidance depending on the home and timing. Unpaid buyer-agent compensation, inspections, points, repairs and unusual charges are not specifically modeled; confirm any applicable amounts with Tyson and the lender.

Michigan Treasury · 2025 millagesMichigan tax uncappingHUD · FHA mortgage insuranceVA · Funding feesCFPB · Closing costs

Tyson Reeves, NMLS #1841849, is a licensed Mortgage Loan Officer with Everett Financial, Inc. dba Supreme Lending, NMLS #2129. Stonehouse Realty is a separate real estate brokerage and is not a mortgage lender. Mortgage services are optional, and clients are not required to use Tyson Reeves or Supreme Lending for financing.

Everett Financial, Inc. dba Supreme Lending NMLS #2129. 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. Equal Housing Lender. NMLS Consumer Access · Supreme Lending disclosures